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Home » Question of the Week » Expensive Mistakes » Post 96405 | Search
This is a question Expensive Mistakes

coopsweb asks "What's the most expensive mistake you've ever made? Should I mention a certain employee who caused 4 hours worth of delays in Central London and got his company fined £500k?"

No points for stories about the time you had a few and thought it'd be a good idea to wrap your car around a bollard. Or replies consisting of "my wife".

(, Thu 25 Oct 2007, 11:26)
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A very nice woman called
And asked if she could borrow half a million pounds.

This is not as uncommon as it sounds. So, I lent her half a million pounds (secured on a property worth 2.2 million, first charge, clean title, due diligence up the yin-yang).

6 months later, there I am in the high court, with the owner of the property, the woman (formerly his solicitor and a dab hand at his signature) and a *formerly* close associate... all of us quite keen to get his money back.

Oh, and the nice woman's son and daughter, who's law firm's legal indemnity fund (and professional reputation) she'd just scalped for half a bar.

My mistake? it never occurred to me that anyone could be quite so stupid as to think that no-one would notice them walking away with half a million quid in cash. Lost me a 75 grand fee, too...

500,000 pounds is a lot of money when you're looking at it sat in the witness stand.
(, Mon 29 Oct 2007, 8:26, Reply)

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